Prices rise, Inflation falls

 

Data released earlier today by Spain's National Institute of Statistics (INE) revealed how consumer prices increased by 1 point last month, but even so the rate of inflation fell for the fourth month in a row, reaching 3% - a fall of 0.1% on July.

Food and Drink increased by an average of 2.2%, while prices in restaurants, hotels and coffee shops increased by 1.5%.

However, prices of clothing and footwear actually fell by 0.9% compared to the previous month, along with housing and transportation, which fell 0.2%.

Core inflation (which excludes unprocessed food and energy products) came in unchanged at 1.6% on the previous month.

All of the regions decreased or maintained their annual inflation rate from last month, in spite of the consumer price changes, with the exception of the Canary Islands, which saw a 10% increase and now stands at 2.5%.

The INE report details how prices began to fall in May when inflation stood at 3.5% after an increase of 3.8% in April.